Texas Tech Adds Comac, Graham

Aug 19 2011 | 4:42am ET

The Texas Tech University System has allocated $30 million to two hedge funds.

The $800 million endowment hired Comac Capital and Graham Capital Management to run $15 million apiece, HFMWeek reports. The former is a global macro strategy and the latter a multi-strategy quantitative hedge fund.

“These strategies tend to have a low correlation with funds focusing on equity and credit,” according to TTUS documents.

TTUS has between 30% and 35% of its portfolio investing in hedge funds. Comac and Graham are the second two hedge funds hired by the endowment this year after Argonaut Capital Management and Discovery Capital Management.

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